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A trader purchased a machinory for $20,000 in Jan 2016. Depreciation is charged @ 25% reducing balance. At the end of September 2019 it was

A trader purchased a machinory for $20,000 in Jan 2016. Depreciation is charged @ 25% reducing balance. At the end of September 2019 it was sold for 44,520 . Profit or Loss on sale of machine will be

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